Posted on September, 4, 2023 at 08:59 am
This "Chickpea Powders Market" offers an all-inclusive analysis of regional and global markets based on growth prospects and this entire report is of 117 pages. The Chickpea Powders market is expected to grow annually by 7.5% CAGR (2023 - 2030).
Chickpea Powders Market: Industry Perspective
The Chickpea Powders market is a rapidly growing industry with a huge potential for growth and expansion. The demand for Chickpea Powders products and services has increased significantly in recent years due to their various benefits and applications. The industry players are constantly innovating and investing in R&D to bring more advanced and cost-effective solutions to the market.
One of the key drivers of the Chickpea Powders market is the increasing demand for automation and digitalization across various industries such as manufacturing, healthcare, and retail. Chickpea Powders solutions provide a high degree of efficiency, accuracy, and speed, which helps companies to streamline their operations and increase their productivity.
Another significant driver is the growing trend of IoT and smart devices. With the increasing number of connected devices, there is a huge demand for Chickpea Powders solutions that can integrate and manage these devices effectively. This has led to the development of innovative Chickpea Powders products that can provide real-time insights and control over connected devices.
The Chickpea Powders market is highly competitive, with several well-established players and a large number of new entrants.
The global Chickpea Powders market size is projected to reach multi million by 2030, in comparision to 2021, at unexpected CAGR during 2023-2030 (Ask for Sample Report).
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What is Chickpea Powders?
Chickpea powders are increasingly gaining attention as a dynamic ingredient within the food industry. Renowned for their excellent nutritional profile, versatility, and unique flavor, chickpea powders have witnessed a significant surge in demand. As a consultant or industry expert, it is vital to recognize the immense growth potential within the chickpea powder market. The increasing awareness among consumers for plant-based protein options, coupled with the rising adoption of vegan and vegetarian diets, has fueled the demand for chickpea powders. Furthermore, the functional properties of chickpea powders, including their gluten-free nature, provide ample room for innovation across various segments of the food industry. Market research indicates a substantial growth trajectory for chickpea powders, presenting lucrative opportunities for industry leaders to explore and strategize accordingly.
Market Segmentation Analysis
Chickpea powders are categorized into two types: Desi and Kabuli. Desi chickpea powders are darker in color with a stronger taste, while Kabuli powders have a lighter color and milder flavor. In the market, these powders find applications in various industries. The bakery and confectionery sector utilizes them as a gluten-free alternative for baking goods and snacks. Extruded products industry uses chickpea powders for producing healthy snacks and cereal bars. Additionally, they are used in beverages, dairy products, and various other food industries for enhancing the flavor, texture, and nutritional value of the products.
Chickpea Powders Market Regional Synopsis
The chickpea powders market is poised for remarkable growth across various regions, including North America (NA), Asia-Pacific (APAC), Europe, the United States of America (USA), and China. In North America, the market is expected to witness steady expansion due to the increasing demand for plant-based protein alternatives among health-conscious consumers. The APAC region is projected to witness substantial growth, primarily driven by the rising disposable income, growing preference for healthy and natural food products, and the increasing popularity of veganism. Europe is also expected to contribute significantly to the market growth, fueled by the rising awareness about the nutritional benefits of chickpea powders. The United States and China are anticipated to dominate the market, with a significant market share percentage valuation. These regions' dominance can be attributed to factors such as a large population base, changing dietary preferences, and the presence of prominent market players.
The list of the regions covered are: North America: United States, Canada, Europe: GermanyFrance, U.K., Italy, Russia,Asia-Pacific: China, Japan, South, India, Australia, China, Indonesia, Thailand, Malaysia, Latin America:Mexico, Brazil, Argentina, Colombia, Middle East & Africa:Turkey, Saudi, Arabia, UAE, Korea.
Key Companies & Market Share Insights
Chickpea powders are derived from chickpeas, which are a versatile legume used in various cuisines globally. Several companies are involved in the production and distribution of chickpea powders, including Parakh Agro Industries, Ingredion, Anchor Ingredients, CanMar Grain Products, The Scoular Company, SunOpta, EHL Limited, Blue Ribbon, Batory Foods, Diefenbaker Spice & Pulse, Great Western Grain, Best Cooking Pulses, Scoular, Bean Growers Australia, ADM (Archer Daniels Midland), and AGT Food And Ingredients.
Among these companies, market leaders include large players like Archer Daniels Midland (ADM), Ingredion, and AGT Food And Ingredients. These companies have established reputations and extensive distribution networks, allowing them to capture a significant portion of the market share.
New entrants in the chickpea powders market include smaller companies like Parakh Agro Industries, Anchor Ingredients, CanMar Grain Products, EHL Limited, Blue Ribbon, Batory Foods, Diefenbaker Spice & Pulse, Great Western Grain, Best Cooking Pulses, Bean Growers Australia, and Scoular. These companies have the potential to bring innovation and competition to the market, offering unique and specialized products to meet the evolving demands of consumers.
These companies can help grow the chickpea powders market through various strategies, such as expanding product offerings, investing in research and development to develop new applications, increasing production capacities, conducting marketing campaigns to create awareness, and partnering with retailers and distributors to expand their market reach. By focusing on quality, sustainability, and meeting consumer preferences, these companies can contribute to the overall growth of the chickpea powders market.
Sales revenue information:
- ADM: Chickpea protein division reported over $70 million in sales revenue in 2020.
- AGT Food And Ingredients: Reported sales revenue of over $2 billion in 2019.
- Ingredion: Reported sales revenue of $ billion in 2019.
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Source: Benzinga